Autos

Executive for GM’s Cruise expects consolidation of lidar-SPAC firms

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Cruise Automation COO Dan Kan (l to r), Cruise Automation CEO Kyle Vogt and General Motors President Dan Ammann Tuesday, November, 20, 2018 at Cruise Automation offices in San Francisco, California. 

Source: Noah Berger | General Motors

The co-founder and president of Cruise, General Motors’ majority-owned autonomous vehicle subsidiary, is predicting a consolidation/collapse of the lidar industry, specifically regarding companies that have gone public or plan to do so through deals with blank check companies.

In a series of tweets earlier this week, Kyle Vogt, who also serves as Cruise’s chief technology officer, said recent valuations of companies that have cut deals to go public with…



Source cnbc.com

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